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Exhibit 16.3 -Refer to Exhibit 16.3,which Shows the Market for Wool.Suppose the Market

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Exhibit 16.3
Exhibit 16.3    -Refer to Exhibit 16.3,which shows the market for wool.Suppose the government introduces a variety of policies that set floor prices for wool at $6.As a result of the price support,the typical consumer-taxpayer in effect pays _____ for each pound of wool actually purchased. A) $6 B) $5 C) $12 D) $11 E) $1
-Refer to Exhibit 16.3,which shows the market for wool.Suppose the government introduces a variety of policies that set floor prices for wool at $6.As a result of the price support,the typical consumer-taxpayer in effect pays _____ for each pound of wool actually purchased.


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